American EV startup Lucid (LCID) is starting preparations to enter the most important EV market globally. Newly employed Zhu Jiang, a former govt at NIO, Ford, and different high-profile automakers, revealed plans Thursday to steer the EV maker’s growth into China.

Former NIO govt to steer Lucid’s China EV enterprise

In response to native information studies, Jiang revealed, “Lucid, a brand new American automotive producer, is starting to organize for getting into the Chinese language market.”

Jiang, who beforehand served as vp at NIO, led Ford China’s Mustang Mach-E rollout and held positions at BMW and Jidu Auto, can be liable for Lucid’s EV operations in China.

Lucid’s plans to broaden to China have been initially revealed within the firm’s first earnings name after going public in November 2021. CEO, Peter Rawlinson, mentioned:

We additionally plan probes in different components of the world, the Center East and in China, and that is going to be a part of our international growth plan.

He continued to say that the majority reservations on the time have been in its residence market, the US, however “we haven’t even opened up the massive market and trainer, which is China.”

A number of days later, Rawlingson instructed CNBC‘s Jim Cramer the EV maker was seeking to construct a plant in China and the Center East for a world growth. Lucid already started hiring within the area, posting over a dozen jobs in China final December.

After producing 2,314 Lucid Air fashions within the first quarter and delivering 1,406 (+300% YOY), the EV maker is projecting to hit the decrease finish of its yearly manufacturing steerage of round 10,000 items.

Forward of the total unveiling of its first electrical SUV later this yr, the Lucid Gravity, the corporate raised $3 billion final week, with the bulk ($1.8 billion) coming from Saudi Arabia’s Public Funding Fund (PIF).

Electrek’s Take

Lucid has been planning to broaden into China from the start, however hiring somebody with expertise available in the market, like Jiang, is wise.

With expertise rising a premium EV startup in China with NIO and launching an American mannequin with Ford’s Mach-E, Jiang has the real-life expertise for a profitable introduction to the market.

It is going to be fascinating to see how Lucid sells in China. With the Lucid Air Pure beginning at $87,400 and its prime mannequin, the Saphire promoting for $249,000, there isn’t a lot competitors in Lucid’s value vary. As leaders from a number of automakers have identified, consumers in China are now not interested by simply model names or styling. They’re extra involved with the brand new tech, software program, and expertise.